BP (NYSE:BP): Closing price $41.67
U.S. Federal prosecutors have unveiled new criminal indictments against a former BP executive and a former BP engineer who are charged with obstructing investigations into the April 2010 Gulf of Mexico oil spill. The new indictment of the former executive David Rainey implies that he was aware of the congressional inquiry he was charged with obstructing, when he supplied false information not long after the spill to members of the House Committee on Energy and Commerce, including data regarding the rate that oil flowed from the ruptured Macondo well. In May, United States District Judge Kurt Engelhardt in New Orleans turned aside a count of obstruction of Congress against Rainey, partly due to the fact that it lacked adequate detail, which the revised indictment is meant to address.
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